---
ticker: "LMBS"
name: "First Trust Low Duration Opportunities ETF"
url: "https://etf.net/etf/LMBS"
grade: "C"
score: 46
graded_at: "2026-10-12"
category: "Mortgage-Backed Securities"
category_rank: "12 of 25"
methodology: "https://etf.net/methodology"
---

# LMBS: First Trust Low Duration Opportunities ETF

Grade **C**, Score 46 of 100. Rank 12 of 25 in Mortgage-Backed Securities.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 17 | 21 of 25 |
| Mission | 36 | 13 of 20 |
| Risk | 78 | 5 of 25 |
| Tradability | 83 | 3 of 25 |
| Holdings | 49 | 13 of 25 |
| Durability | 76 | 6 of 25 |

## Top holdings

The fund holds 1156 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | US 2YR NOTE (CBT) Dec26 | 17.37% |
| 2 | — | Fannie Mae or Freddie Mac TBA, 6%, due 06/01/2056 | 8.60% |
| 3 | — | Fannie Mae or Freddie Mac TBA, 5.50%, due 04/01/2056 | 3.61% |
| 4 | — | Fannie Mae or Freddie Mac TBA, 6.50%, due 03/01/2055 | 2.74% |
| 5 | — | GNMA TBA, 6.50%, due 01/01/2056 | 2.21% |
| 6 | — | U.S. Treasury Bill, 0%, due 10/20/2026 | 1.85% |
| 7 | — | U.S. Treasury Bill, 0%, due 10/27/2026 | 1.85% |
| 8 | — | Freddiemac Strip Series 462, Class AK, 4.65%, due 07/25/2031 | 1.82% |
| 9 | — | Fannie Mae or Freddie Mac TBA, 3%, due 01/01/2052 | 1.70% |
| 10 | — | U.S. Treasury Bill, 0%, due 10/15/2026 | 1.62% |
| 11 | — | U.S. Treasury Bill, 0%, due 11/03/2026 | 1.61% |
| 12 | — | U.S. Treasury Bill, 0%, due 11/05/2026 | 1.61% |
| 13 | — | GNMA G2 MA7366, 2%, due 05/20/2051 | 1.57% |
| 14 | — | GNMA TBA, 4.50%, due 05/01/2056 | 1.53% |
| 15 | — | GNMA G2 788612, 6%, due 11/20/2065 | 1.51% |
| 16 | — | GNMA G2 788850, 6%, due 09/20/2066 | 1.46% |
| 17 | — | U.S. Treasury Bill, 0%, due 10/29/2026 | 1.38% |
| 18 | — | U.S. Treasury Bill, 0%, due 11/10/2026 | 1.38% |
| 19 | — | U.S. Treasury Bill, 0%, due 11/12/2026 | 1.38% |
| 20 | — | U.S. Treasury Inflation Indexed Note, 0.125%, due 04/15/2027 | 1.35% |
| 21 | — | Fannie Mae FN FM3003, 4%, due 05/01/2049 | 1.32% |
| 22 | — | Fannie Mae FN FA5201, 4%, due 03/01/2050 | 1.27% |
| 23 | — | Freddie Mac FR SL1523, 3.50%, due 07/01/2050 | 1.24% |
| 24 | — | GNMA TBA, 6.50%, due 01/01/2056 | 1.22% |
| 25 | — | U.S. Treasury Bond, 5.125%, due 08/15/2046 | 1.20% |
| 26 | — | U.S. Treasury Bill, 0%, due 10/22/2026 | 1.15% |
| 27 | — | Fannie Mae FN FM2972, 4%, due 12/01/2044 | 1.15% |
| 28 | — | U.S. Treasury Bill, 0%, due 11/24/2026 | 1.15% |
| 29 | — | U.S. Treasury Bond, 5%, due 05/15/2045 | 1.11% |
| 30 | — | Fannie Mae FN FA2450, 4%, due 03/01/2047 | 0.97% |

Source: etf.net, https://etf.net/etf/LMBS. Please cite the page URL.